Making improvements is a part of owning your own home. These enhancements are meant to make your home more comfortable but they can also increase the overall value of your property. Some upgrades are expensive and require a great deal of time and effort. If you’re looking for a quick and easy home improvement project that’s affordable and will significantly increase the value of your home, try painting. The application of paint to your home’s exterior can increase the value of your home by 2% to 5%!
How does paint increase a home’s value?
Exterior paint increases the curb appeal and signals to others that your home is in good repair. It sets the right tone when a prospective buyer sees your home for the first time and may result in quicker and higher offers. You want potential buyers to fall in love with your home the minute they pull up to the curb! If they like the appeal of the exterior, they’re far more likely to venture in for a closer look. Consider a new coat of stain on your deck, fence and trellis too. Painting your home’s exterior offers an attractive return of up to 51% of the cost of investment. Don’t forget those interior walls! Interior paint brings a return of up to 109% and is highly recommended! It’s the least expensive investment for the biggest return.
Should I paint the exterior, the interior or both?
Sometimes the budget just won’t bear the repainting of all your home’s surfaces. Here are some things to consider when deciding what to paint:
- Prioritize the most visible spaces. If you can’t afford to paint everything, paint the spaces potential buyers will focus on when they walk through the door. This includes the great room, the entryway, the hallway and the primary bedroom.
- Repair any paint damage. Chips and other signs of deterioration will stand out to potential buyers and appraisers who determine the value of your home.
- Select neutral interior colours. Bright colours and patterns might appeal to you, but potential buyers want a clean slate upon which to stamp their style. One colour throughout is recommended.
- Select neutral exterior colours. Data indicates that painting your home yellow or pink can be polarizing and/or a turnoff, significantly reducing what buyers are willing to pay. On the other hand, white, blue and greige (a melding of gray and beige) are currently attractive colours for potential buyers.
- Touch up damaged areas and/or paint the trim to improve curb appeal if a tight budget prevents a full exterior paint job. Chocolate or black adds a bold graphic element when applied to exterior trim.
- Consider painting just the kitchen. Kitchens with dark cabinets and white walls are most attractive to home buyers. Returning your kitchen to a more neutral palette helps a buyer envision themselves in the space. Consider just repainting your cabinets.
- Don’t overlook the bedroom. To entice potential buyers, have a professional painter make your bedroom walls a soft grey or neutral greige. Repainting trim in your bedroom can also add big value. It makes your space look fresh, neat and clean.
- Tackle a small room. A light blue or very light grey on your bathroom walls can increase your home’s value. A fresh coat of paint updates the look, resolving stains, and or spots caused by high humidity levels. This quick and inexpensive facelift can add a 172% return on investment.
Beware of poor quality painting:
Unless you are very confident, don’t do the paint job yourself. Substandard painting (full of drips, brush marks, wiggly cut line) devalues your home. Consider hiring a reputable, professional painting contractor. This ensures a high-quality paint job that will raise the value of your home.
A new coat of glossy paint gives your home that wow factor! It creates an appealing aesthetic. Painting is a cost-effective way to improve the likelihood that your home will sell quickly and for the asking price. A few cans of paint is a wise investment! Choose your colour(s) carefully to appeal to a broad audience. Hire a professional painter and they’ll finish quickly, making sure the project is done right. They can even help you with colour recommendations.
Need a new interior and/or exterior paint job to help you sell your home? Want advice regarding colour choices? Call the Calgary residential painting experts, Cal Res Coatings at (403) 917-0579. We’re a residential painting contractor that strives for quality, has an eye for detail and colour and will not rest until your job is done to your satisfaction. Request a free quote today.